Tax Literacy: Helping Canadian Newcomers Settle In

By: Evelyn Jacks Posted in: Strategic Thinking, tax preparation, Financial Literacy, tax credits, knowledge bureau, Evelyn Jacks, income tax estimator, tax filing, tax courses, non-refundable tax credits, distinguished financial advisor, financial education, immigration, Canada immigration, newcomers to canada, Canadian residence, residence period, tax credits for immigrants, Canadian emigration, expenses and deductions
Did you know that 1,212,075 new immigrants permanently settled in Canada from 2011 to 2016, representing 3.5 percent of Canada’s total population in 2016? Tax and financial advisors have a great opportunity to help with the financial affairs of these families, especially because the tax rules are somewhat different for these residents.

Mortgage Stress Test: Benefits to Canadian Debt Management

By : Knowledge Bureau Staff Writers Posted in: Strategic Thinking, Debt Management, Real Wealth Management, Financial Literacy, Financial Advisor, investment, knowledge bureau, interest rates, Evelyn Jacks, real estate, master financial advisor, retirement income, financial education, mortgage stress test, mortgage lenders, Retirement and Estate Services Specialist, holistic wealth management, Canadian debt levels, debt to income ratio, qualifying for a mortgage, wealth building, Tax Strategies for Investors
In January, a new mortgage stress test was put in place requiring Canadian home buyers to qualify at rates higher than the benchmark interest rates imposed by the Bank of Canada and individual lenders. The implications to Canadian debt levels and the housing market are factors advisors should consider when offering holistic advice to clients.

Small Businesses in Canada are Growing: Take the Leap into Entrepreneurship!

By : Knowledge Bureau Staff Writers Posted in: Strategic Thinking, self-employed, knowledge bureau, Evelyn Jacks, Small Business, entrepreneur, CE summits, proprietorships, Executive Business Builder Program, business growth, Canadian conferences, starting a business, leadership development, leadership retreat, Executive Busisness Builder Retreat, Paynet, business debt
Despite trends leaning towards an increase in self-employment over the next few years, the current state of the economy has some Canadians questioning whether it’s the smart financial choice for them. According to a new report from Paynet’s Canadian Small Business Lending Index, the potential for private business growth is positive, making self-employment a smart choice for those considering taking the leap.

CSA’s Proposed Client-Focused Reforms: KYC and KYP Guidelines

By: Evelyn Jacks Posted in: Strategic Thinking, Financial Literacy, compliance, knowledge bureau, Evelyn Jacks, Real Wealth Manager, online education, CSA, Canadian Securities Administration, fee disclosure, fee-based services, advisor commissions, financial advisor compensation, Know Your Client, Know Your Products, client-focused services, holistic financial advice
The Canadian Securities Administrators (CSA) recently proposed expanded guidelines on registrants’ obligations to act in a client’s best interests and on its proposals regarding embedded commissions. Knowledge Bureau is pleased to announce that Ian Russell, President and CEO of the Investment Industry Association of Canada (IIAC) will provide expert commentary on the matter at the Distinguished Advisor Conference November 10-14 in Quebec City.

Summertime Moves: 7 Tax-Efficient Tips

By: Evelyn Jacks By : Posted in: Strategic Thinking, Financial Literacy, tax credits, self-employed, knowledge bureau, Evelyn Jacks, income tax estimator, tax calculator, Moving Expenses, tax education, income tax preparation, moving credits, moving claims, tax-efficiency, job relocation, storage costs, Income Tax Filing Fundamentals
Summertime moves make sense for many families, as they can ensure the kids are well established to start in their new schools by fall. The moving process can be hectic, but it also creates lucrative tax deductions – so keep your receipts and documentation to take advantage. Here are seven moving-related tax tips for expense claims that every Canadian needs to know!

Disability Credit Rejects: Close to 60% of Taxpayers Win Back Rights

By : Knowledge Bureau Staff Writers Posted in: Strategic Thinking, tax preparation, CRA, tax credits, knowledge bureau, Canada Revenue Agency, Evelyn Jacks, disability tax credit, RDSP, Registered Disability Savings Plan, tax education, diabetes, Diabetes Canada, tax refunds, rejected claims, life-sustaining therapies claim, Senate Committee on Social Affairs, Distinguished Financxial Advisor
Last year, following a bitter public controversy, the CRA re-assessed 2,267 rejected claims from diabetics applying for the Disability Tax Credit (DTC). The good news? Now 1,326 have now been approved – that’s 58 percent! But these Canadians will wait up to 30 weeks for refunds; an issue that has prompted a further Senate response.